Alaska Air Group (ALK) Cut to “Equal Weight” at Barclays

Barclays cut shares of Alaska Air Group (NYSE:ALK) from an overweight rating to an equal weight rating in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has $80.00 price target on the transportation company’s stock, down from their previous price target of $90.00.

Several other brokerages have also recently commented on ALK. Bank of America decreased their price target on shares of Alaska Air Group from $100.00 to $96.00 and set a buy rating on the stock in a research note on Friday, October 13th. Cowen decreased their price target on shares of Alaska Air Group from $103.00 to $100.00 and set an outperform rating on the stock in a research note on Thursday, September 14th. Zacks Investment Research cut shares of Alaska Air Group from a hold rating to a sell rating in a research note on Tuesday, September 12th. Morgan Stanley reiterated an overweight rating on shares of Alaska Air Group in a research note on Tuesday, September 12th. Finally, Macquarie began coverage on shares of Alaska Air Group in a research note on Monday, September 25th. They issued an outperform rating and a $94.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $88.89.

Alaska Air Group (NYSE:ALK) opened at $73.52 on Wednesday. The firm has a market cap of $9,050.00, a price-to-earnings ratio of 11.78 and a beta of 1.03. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 0.68. Alaska Air Group has a 1-year low of $61.10 and a 1-year high of $101.43.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Wednesday, October 25th. The transportation company reported $2.24 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.02). The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.13 billion. Alaska Air Group had a return on equity of 28.74% and a net margin of 10.34%. The company’s quarterly revenue was up 35.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 EPS. analysts expect that Alaska Air Group will post 6.65 earnings per share for the current fiscal year.

In other news, EVP Andrew R. Harrison sold 540 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $65.53, for a total transaction of $35,386.20. Following the sale, the executive vice president now directly owns 20,788 shares in the company, valued at approximately $1,362,237.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David L. Campbell sold 4,934 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $68.00, for a total transaction of $335,512.00. Following the sale, the chief executive officer now owns 9,648 shares in the company, valued at $656,064. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mercer Capital Advisers Inc. purchased a new stake in shares of Alaska Air Group during the 3rd quarter valued at about $116,000. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Alaska Air Group during the 2nd quarter valued at about $122,000. Bank of Nova Scotia Trust Co. purchased a new stake in shares of Alaska Air Group during the 3rd quarter valued at about $153,000. Harbour Capital Advisors LLC purchased a new stake in shares of Alaska Air Group during the 3rd quarter valued at about $200,000. Finally, Tocqueville Asset Management L.P. purchased a new stake in shares of Alaska Air Group during the 3rd quarter valued at about $207,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

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About Alaska Air Group

Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.

Analyst Recommendations for Alaska Air Group (NYSE:ALK)

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